Non Warrantable Condo Definition

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A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or Fannie Mae, and as such, they are considered by most banks to be more “risky.” Freddie Mac and Fannie Mae have established criteria when it comes to evaluating condominium developments.

Lenders in my state do non-warrantable condos on primary residences up to 75%. I don’t know any that would do an investment condo non-warrantable. You might want to go to a few brokers and see what’s out there in your local bank market.

Definition of non-warrantable condo: A condominium that falls short of adhering to specific requirements set by the lender.

So, let's get to the definitions! A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or.

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A CONDO QUESTIONNAIRE MUST BE COMPLETED BY THE MANAGEMENT TO determine project eligibility. Because FNMA would not purchase mortgages secured by non-warrantable condominiums, many banks consider these condos to be more risky, and thus increase the interest rate accordingly.

Should I be buying a non warrantable condo in the city? I like the condo and the area but afraid I will not be able to sell it later due to mortgage Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

In response to the California Homebuyer’s Downpayment Assistance Program accepting manual underwriting on all loans with a non-CalFHA manually. (Jumbo I and III). Condo projects must meet FNMA.

Reader Question: I am trying to learn what makes a condo warrantable vs. non-warrantable. Can you help me? Jonathan D. Monty’s Answer: The answer is that condominium, co-op and planned unit development (pud) projects with particular attributes can be riskier than other types of development projects.

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Warrantable definition is – capable of being warranted : justifiable. How to use warrantable in a sentence.